Answer / sanjaya bbllav mohanty

salary a/c dr
to salary outstanding a/c


wnen paid
salary outstanding a/c dr
to cash / bank cr

Answer / santosh kumar

First entry for Salary Outstanding:-

Salary A/C Dr
To Outstanding Salary A/C
(Being salary due for the month)

When paid?

Salary Outstanding A/C Dr
To Bank A/C
(Being outstanding salary paid)

Answer / naresh

Keep in mind every time when you're preparing a journal entry

Assets always shows debit balance
Liabilities always shows credit balance

When payment is not made

Salary Dr
Outstanding salary CR

When payment is made

Outstanding salary Dr
Cash CR

Final entry

salary Dr
To cash CR

Answer / bala

salary A/c Dr. xxx
To salary outstanding A/c xxx
(being salary for due)


salary outstanding A/c Dr. xxx
To salary A/c xxx
(being salary paid)

Answer / yogendra pratap singh

overhead salries A/c Dr
To outstanding salaries a/c

Answer / waqar

nononononon
first
salary a/c dr
outstanding salary a/c cr
beginning of year
we transfer outstanding salary to salary expense a/c
by
outstanding salary dr
salary expense a/c cr
and when payment made
salary expense dr
cash /bank cr

Answer / subash

salary a/c dr
to salary payable a/c

salary due


salary a/c dr
to bank/cash a/c

payment

hi Please help me for my interview in syntel so please guiad

0 Answers  

How will we know that this entry will go in this group in tally.

1 Answers  

on which time a company secretary has filled his compliance in form no.66?

4 Answers  

what is procedure to transfer funds between companies registered under sec 25 of the companies act? Is there is possible to get exemption certificate?

1 Answers  

Income Tax Department sends cheque for INR 2 Crore as Refund after completion of Assessment for A.Y.2011 - 2012 to a Company. As per IT Return filed for this year I.T. due to Government was INR 60 Lac but was assessed at INR 70 Lac. TDS due to Company was INR 3 Crore which was admitted as INR 2.7 Crore by Government. Government also adjusts Tax dues for A.Y. 2009 - 2010 of INR 40 Lac which was disputed earlier by the Company and Appeal was lying with the CIT. Government pays Interest to the Company amounting to INR 40 Lac. Provision for Income Tax made by the Company in its accounts for F.Y. 2010 - 2011 (A.Y. 2011 - 2012) was INR 50 Lac. What would be the Journal Entry at the time of receipt of Refund of INR 2 Crore from the Government in A.Y. 2014 - 2015 in the books of the Company?

0 Answers  

Is labour act applicable for firms?

1 Answers  

what is derivatives?

4 Answers  

what is the meaning of CTT

2 Answers  

Benjamin O'Henry has owned and operated O'Henry's Data Services since its beginning ten years ago. From all appearances, the business has prospered. In the past few years, you have become friends with O'Henry and his wife. Recently, O'Henry mentioned that he has lost his zest for the business and would consider selling it for the right price. You are interested in buying this business, and you obtain its most recent monthly unadjusted trial balance which follows: O'Henry's Data Services Unadjusted Trial Balance November 30, 20XX Cash……………………………… $9,700 Accounts receivable……………………… 7,900 Prepaid expenses………… 2,600 Furniture, fixtures, & equipment 151,300 Accumulated depreciation $15,600 Accounts payable………… 3,800 Salary payable……………… Unearned service revenue 6,700 Benjamin O'Henry, capital 137,400 Benjamin O'Henry, withdrawals 2,000 Service revenue………… 14,300 Rent expense…………… Salary expense………… 3,400 Utilities expense……… 900 Depreciation expense Supplies expense…… Total…………………………………………. $177,800 $177,800 Revenues and expenses vary little from month to month, and November is a typical month. Your investigation reveals that the unadjusted trial balance does not include the effects of monthly revenues of $2,100 and monthly expenses totaling $2,750. If you were to buy O'Henry's Data Services, you would hire a manager who would require a monthly salary of $3,000. The most you would pay for the business is 20 times the monthly net income you could expect to earn from it. Compute this possible price. The least O'Henry will take for the business is his ending capital. Compute this amount. Under these conditions, how much should you offer O'Henry? Give your reason. I have the mathimatical part ok , please give reasons on how much and why I they would offer him the amount.

3 Answers  

what is rate of service tax and form no. of service tax ? wt rules of service tax a particuler once .?

0 Answers   iGate,

What is the difference between authorized capital and issued Capital of a private limited company incorporated in Hong Kong

3 Answers  

what is the abrevation for JJ in form jj

0 Answers